Jake Chervinsky, general counsel at Compound Labs, and Kristin Smith, executive director of The Blockchain Association, talk about the storm brewing in the cryptosphere involving self-custody and privacy. In this episode, they cover: <ul> <li style="font-weight: 400;">the differences between hosted and self-hosted wallets and how transactions between them differ</li> <li style="font-weight: 400;">why the ability to transact from self-hosted wallets is so important</li> <li style="font-weight: 400;">compliance and regulation in the traditional financial world and how it could affect self-custody</li> <li style="font-weight: 400;">the “Swiss rule” and what it could mean for the rest of the world</li> <li style="font-weight: 400;">the proposal by FinCEN to lower the threshold for collecting data on transactions from $3,000 to $250</li> <li style="font-weight: 400;">how regulators might achieve their goals without “dragnet” surveillance</li> <li style="font-weight: 400;">how the amount of crime and money laundering in the traditional financial system compares to that in the crypto world</li> <li style="font-weight: 400;">why OTC brokers are considered the most significant money laundering risk in crypto, and how that risk might be mitigated</li> <li style="font-weight: 400;">how different political environments can influence the value of peer to peer transactions</li> <li style="font-weight: 400;">whether Americans should be willing to give up some of their financial privacy in favor of security</li> <li style="font-weight: 400;">what the recent statement by the DOJ's cryptocurrency enforcement framework labeling anonymous transactions as "high-risk activity indicative of possible criminal conduct" could mean for privacy coins like Monero and Zcash</li> <li style="font-weight: 400;">Gary Gensler's appointment as head of Biden's financial policy transition team and whether to view it as a positive or negative for crypto</li> <li style="font-weight: 400;">whether they think the incoming Congress will be in favor of more surveillance or more privacy</li> <li style="font-weight: 400;">whether there might eventually be regulations for developers who write code for self-hosted wallets</li> <li style="font-weight: 400;">how potential rules regarding self-custody could affect non-monetary items like NFTs</li> <li style="font-weight: 400;">and the next big developments they are watching out for regarding this issue</li> </ul>   Thank you to our sponsor!  <a href="http://crypto.com/">Crypto.com</a>: <a href= "http://crypto.com/">http://crypto.com</a>   Episode links:  Jake Chervinsky: <a href= "https://twitter.com/jchervinsky">https://twitter.com/jchervinsky</a> Compound Labs: <a href= "https://compound.finance/">https://compound.finance</a>   Kristin Smith: <a href= "https://twitter.com/kmsmithdc">https://twitter.com/kmsmithdc</a> The Blockchain Association: <a href= "https://theblockchainassociation.org/">https://theblockchainassociation.org/</a> <a href="https://twitter.com/BlockchainAssn">https://twitter.com/BlockchainAssn</a>   FinCen NPRM: <a href= "https://www.federalregister.gov/documents/2020/10/27/2020-23756/threshold-for-the-requirement-to-collect-retain-and-transmit-information-on-funds-transfers-and"> https://www.federalregister.gov/documents/2020/10/27/2020-23756/threshold-for-the-requirement-to-collect-retain-and-transmit-information-on-funds-transfers-and</a>   Coin Center commentary on lowering FinCEN threshold: <a href= "https://www.coincenter.org/app/uploads/2020/10/Coin-Center-Comment-FinCEN-FRB-250-threshold.pdf"> https://www.coincenter.org/app/uploads/2020/10/Coin-Center-Comment-FinCEN-FRB-250-threshold.pdf</a>    Unchained episode about the FATF travel rule: <a href= "https://unchainedpodcast.com/why-the-travel-rule-is-one-of-the-most-significant-regulations-in-crypto/"> https://unchainedpodcast.com/why-the-travel-rule-is-one-of-the-most-significant-regulations-in-crypto/</a>    The choice of Gary Gensler to lead the financial policy transition team:  <a href= "https://www.wsj.com/livecoverage/trump-biden-election-day-2020/card/peMRHGPJasECSPLezSFx"> https://www.wsj.com/livecoverage/trump-biden-election-day-2020/card/peMRHGPJasECSPLezSFx</a>   <a href= "https://www.coindesk.com/biden-confirms-gary-gensler-will-lead-financial-policy-transition-team"> https://www.coindesk.com/biden-confirms-gary-gensler-will-lead-financial-policy-transition-team</a>   Shapeshift delists Zcash: <a href= "https://www.coindesk.com/shapeshift-delists-privacy-coin-zcash-over-regulatory-concerns"> https://www.coindesk.com/shapeshift-delists-privacy-coin-zcash-over-regulatory-concerns</a> Jessie Liu interview on Unchained: <a href= "https://unchainedpodcast.com/what-you-need-to-know-about-the-dojs-cryptocurrency-enforcement-framework/"> https://unchainedpodcast.com/what-you-need-to-know-about-the-dojs-cryptocurrency-enforcement-framework/</a>

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Everything You Need to Know About the Looming Battle Over Privacy in Crypto - Ep.199

Laura Shin